THE GREAT DEPRESSION 1929 1940
THE GREAT DEPRESSION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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farm goods
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consumer goods
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farm and consumer goods
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iPhones
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Detailed explanation-1: -A main cause of the Great Depression was overproduction. Factories and farms were producing more goods than the people could afford to buy. As a result, prices fell, factories closed and workers were laid off.
Detailed explanation-2: -Farmers Grow Angry and Desperate. During World War I, farmers worked hard to produce record crops and livestock. When prices fell they tried to produce even more to pay their debts, taxes and living expenses. In the early 1930s prices dropped so low that many farmers went bankrupt and lost their farms.
Detailed explanation-3: -While the October 1929 stock market crash triggered the Great Depression, multiple factors turned it into a decade-long economic catastrophe. Overproduction, executive inaction, ill-timed tariffs, and an inexperienced Federal Reserve all contributed to the Great Depression.
Detailed explanation-4: -In the United States, where the Depression was generally worst, industrial production between 1929 and 1933 fell by nearly 47 percent, gross domestic product (GDP) declined by 30 percent, and unemployment reached more than 20 percent.